Investors are increasingly cautious about how fast artificial intelligence could reshape business models, which is pressuring software firms and anything seen as vulnerable to automation. At the same time, the release of new AI models and solutions keeps concerns elevated over the erosion of the competitive edge of current leaders. Key stocks such as Nvidia, Meta, and Alphabet were lower at the open, reinforcing the risk-off bias.
Black Creek's Baidu holding now accounts for 4.93% of reported U.S. equity AUM, down from 9.60% the previous quarter. Top five positions after the filing: NASDAQ:HOLX: $252.64 million (11.91% of AUM) NYSE:ELAN: $251.40 million (11.85% of AUM) NYSE:BAH: $208.74 million (9.8% of AUM) NASDAQ:PSMT: $206.72 million (9.75% of AUM) NASDAQ:PYPL: $184.63 million (8.71% of AUM) As of November 11, 2025, Baidu shares were priced at $131.95, up 49.47% over the past year and outperforming the S&P 500 by 34.13 percentage points.
Berkshire Hathaway's most recent filing showed Buffett shed ~42 million shares of and . This translates to a 14.92% reduction in his AAPL stake and a 6.15% reduction in his BAC stake. This is antithetical to what the rest of the market has been doing, and it's not the only quarter where Warren Buffett has seemed bearish. He has been a net seller for 12 consecutive quarters as of Q3.
It's also important to rebalance on an ongoing basis as you get closer to your spending target.As retirement approaches, we need to spend that money, so you want to de-risk your portfolio and build safer asset reserves. Investors age 50 and above really need to take notice of rebalancing. It's time to take some winnings and build safer assets that you could access if you needed to spend from your portfolio. Moving money into high-quality bonds removes risk and takes advantage of current attractive yields.
Dubbed the " September Effect," this phenomenon sees the S&P 500 averaging a negative 0.8% return since 1926, the only month with a consistent negative average over nearly a century. Theories abound as to why: from portfolio rebalancing by institutional investors to tax-loss harvesting and post-vacation market jitters.
